Wed, 20 Aug 2025 | BUSINESS SALE
Dyer Engineering Limited, an engineering firm based in County Durham, has established a new group and completed an acquisition after securing investment. Dyer has established SST Group, which is owned and led by its directors, and acquired Q-Laser, a £3 million-turnover laser cutting firm based in Washington, as it seeks to grow the business.
Having grown its turnover from £11 million to £17 million over the past five years, Dyer has secured a £1.62 million investment from NPIF II – Maven Equity Finance, part of the Northern Powerhouse Investment Fund II, and the Finance Durham Fund, established by Durham County Council and overseen by Business Durham. Both funds are managed by Maven Capital Partners.
With SST Group now fully operational, the NPIF II – Maven Equity Finance investment will be used to support its future organic growth, leveraging the capabilities of both Dyer and Q-Laser within SST. Dyer Engineering Executive Chairman Richard Bradley will serve as Chief Executive of SST Group and Managing Director Adam Leggett will take on the role of Chief Operating Officer.
Richard Bradley commented: "The group has been created out of the success and momentum of our business, with a vision to bring together regional engineering companies that offer complementary services and share a common commitment to innovation, technology and sustainability.”
Bradley added that the creation of SST Group provides the business with “access to greater stability, shared resources and broader opportunities for collaboration and growth”, adding that it “strengthens our platform for long term investment and helps secure a more sustainable future for the business and our people."
Bradley also hailed the acquisition of Q-Laser, saying that the firm has “a formidable reputation across the North East for precision, quality and service.”
Q-Laser Managing Director Colin Hewitt said SST Group shared the firm's "commitment to excellence, innovation and customer care" and that joining the group would provide the company with greater opportunities for its technology, products and staff.
Maven Capital Partners Investment Partner Michael Vassallo said: “With an experienced leadership team, a strong company culture and a clear strategic vision, SST Group is well positioned for growth, and the funding injection will help support high quality jobs and strengthen the manufacturing sector in the region."
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